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NFI up 14% YoY for Norman Broadbent

Norman Broadbent has released its final results for the year ended 31st December 2019.

Revenue increased by 22% year-on-year to £11,486,000, up from £9,414,000 in the previous year. Net fee income was £7,607,000, up 14% on 2019’s £6,644,00. Group profit before tax was £84,000, up from a loss of £741,000 in 2019.

Mike Brennan, Group CEO of Norman Broadbent Group, said, "Having posted a positive set of 2019 Group results, we came into 2020 with good momentum and plans for further growth. We opened a new office in the North of England, relocated to better Central London offices, and were actively seeking to appoint additional team members in both centres. Then, we, like many businesses, were impacted by the Covid-19 pandemic.

“Notwithstanding that, the early and decisive actions taken by us, combined with our broader portfolio of services, leaves us better placed to respond to these challenges than many. Similarly, our collaborative and innovative culture will stand us in good stead when compared to more traditional and siloed competitors.

“I and the Board would like to thank our shareholders for their continuing support, and our clients for placing their trust in us. I would also like to pay tribute to our team, all of whom have made considerable sacrifices in recent months. It is an honour to be their CEO, and I am proud of their achievements, much of which is down to their hard work, dedication, and commitment."

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